New office seeks to bolster commercial relations between Singapore and SA
The official launch of the Singapore Commercial Office, which will facilitate and support business relations between Singapore and South Africa, was accompanied by the signing of an agreement, as well as four memoranda of understanding, between public- and private-sector organisations from the two countries last month.
Singapore High Commissioner to South Africa Bernard Baker said the office would improve commercial links between Singapore, South Africa and Southern African countries.
“I hope to see more trade offices in Africa. Trade between South Africa and Singapore has grown yearly by 9.4% since 1999 and we aim to further increase two-way trade.”
Singapore has 18 free-trade agreements with 24 trading partners and Baker said he hoped to see a free-trade agreement between Singapore and the five member States of the Southern African Customs Union.
“There are tremendous opportunities for further Africawide collaboration in the information and communication technology, agri- commodities, oil and gas, urban solutions, as well as in the education and logistics sectors,” said Baker.
“I am also hopeful that we will be able to strengthen our trade links with Namibia, Botswana, Rwanda, Mozambique and, further afield, with Kenya and Ghana,” he added.
Singapore has few natural resources and relies strongly on the skills of its people and on facilitating trade passing through its ports and cities towards and from China and Southeast Asian countries for economic prosperity.
The prime intention of government was to grow the economy to ensure societal cohesion and prosperity for the small nation, said govern- ment agency International Enterprise Singa-pore CEO Teo Eng Cheong.
During the early years of Singapore’s independence, its companies built their capabilities and technical knowledge in industries to serve its domestic economy.
“As they laid Singapore’s economic foundation and developed industrial capabilities, it was a natural progression for them to share their expertise overseas, for example, in education and training, information and communication technology, logistics, oil and gas, as well as urban solutions,” said Teo.
The Singapore government’s top priority was to grow the economy. This singular goal unified various government agencies and the different ministerial policies complemented each other to achieve this goal, he explained.
“Singapore has capable companies in the infrastructure development, logistics and manufacturing sectors, among others, and their interest in African markets is growing.”
“However, they do not know the markets or the regulations of those markets and require good partners. There are significant opportunities for companies to partner with capable and technically advanced Singapore companies to thrive in Africa,” he advised.
International Enterprise Singapore centre director Daniel Seah will run the Singapore Commercial Office in Johannesburg.
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